Air Products CEO reaffirms Gulf Coast blue ammonia potential
Air Products is confident blue ammonia from the US Gulf Coast will be “very competitive” in Europe, according to its CEO Eduardo Menezes.
The industrial gas major recently delayed the start-up of its multi-billion-dollar Louisiana blue hydrogen project to 2028/29, and is looking to divest its stakes in the carbon sequestration and ammonia production elements.
Speaking on today’s Q3 earnings call, in which adjusted operating income was flat at $741m but results outperformed guidance, Menezes said it was looking to confirm third party partnership by the end of this year.
“We are working to get these partnerships done by the end of the year, as we said at the previous quarter. Three months later, I’m reasonably optimistic that we will get there,” he said. “The fundamentals of the [Darrow] project remain very strong. It’s a question of finding the right partnerships and agreements and negotiating them which takes a little time.”
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